Hi LK,
Thanks for the numbers and I agree, but these wells were never seen as company makers and unless they can put a serious deal together in Texas, Oklahoma or elsewhere with currently producing wells then these wells will be just another addition to the VERY slow building foundation.
Not recently, but I awhile back I heard some rumours of SXN working on these types of deals which obviously was a rumour or they haven't had any success yet. Honestly, I think they are busy enough with what they got and I hope they just focus their resources on Kansas and Italy. Nontheless these "meat & potatoe" wells will keep the lights on in the office and the monthly burn rate in check and definetly helps Rich and company get to their target of 320 BOE/day exit for Februrary and set us up for success in Italy and Kansas.
Clearly, SXN's success lies in Kansas and Italy, and possibly Mexico depending on how the Permian Basin turns out, but IMO seen more as a foundation play. Without Kansas & Italy I would have been long gone and although we haven taken a haircut (ok scalping) I am glad I waited around to see what Rich Green can do.
Cheers,
cvac01